🚨 Web3 Weekly: Top Stories You Need to Know

📰 News

📢 Bitwise and ProShares File for Circle Stock (CRCL) ETF

Circle Interest Group’s (CRCL) stock price has gained a significant boost after the recent IPO launch. Now, the ProShares and Bitwise ETFs filing, tied to the Circle share price, is another significant milestone for the company, as it’s starting a new wave of single-stock exchange-traded funds.

Circle Stock News: Bitwise and ProShares To Launch ETF on CRCL

According to a recent X post shared by Bloomberg analyst Eric Balchunas, the Circle stock CRCL, which went live on Thursday, is also exploring the exchange-traded funds sector. Reportedly, the stock is set to launch two new single exchange-traded funds, including ProShares Ultra CRCL ETF with 2x leverage and Biwise’s CRCL income ETF targeting a covered call strategy.

Interestingly, both would go into effect on August 20, 2025, once the SEC approved the filings. The ProShares ETF is designed to deliver 2x the daily return of Circle’s share price, currently at $126.24 after a 17% surge amid investors’ excitement.

Notably, the leverage must be held on a daily basis, and the extended holding could bring different results. Besides, this is more appealing to the long-term investors who wish to have direct access to CRCL stock.

Interestingly, the Circle IPO has opened the gates of its popularity, resulting in Ark Investment purchasing $373M worth and more. These filings are the first in ETF history, a milestone, pricing directly connected to the crypto-fintech exosystem.

⚖️ Eight Crypto Firms Show Support for BRCA’s Inclusion in CLARITY Act

The Blockchain Regulatory Certainty Act (BRCA) is receiving growing interest in the US capital. The latest version of the CLARITY Act now lists this bill.

Crypto Industry Leads Applauds BRCA’s Inclusion

Players in the crypto industry are happy that BRCA is now part of the CLARITY Act. As shared by Eleanor Terret on X, this update was embraced by Uniswap, Jump, and six other major organizations in the crypto field. They declared in a statement that this is an important achievement.

The BRCA is made to safeguard persons working on non-custodial blockchain technologies. According to the bill, those developers won’t be governed as money transmitter rules.

It stated that the bill comes out of prior recommendations made by the Financial Crimes Enforcement Network (FinCEN) six years ago. That year, FinCEN concluded that developers who do not handle users’ funds do not have to follow the same regulations as financial institutions. To achieve that, the bill has been updated to ensure the law is clear about it.

Groups backing the bill are Coin Center, Paradigm, Solana Policy Institute, the DeFi Education Fund, and the Blockchain Association. They figure that such a change makes developers feel secure, but it doesn’t loosen the rules governing finances.

It went on to thank some important lawmakers, including Chairman Hill, Chair Steil, Majority Whip Emmer, and Representative Torres, who supported the bill. They assisted in making sure the BRCA was included in the later form of the CLARITY Act.

📊 Markets

🔍 Will BTC Price Rally to $110K This Week or Crash Below $100K?

Bitcoin (BTC) is down 0.40% today after closing the weekend on a positive note. However, the BTC price currently faces a make-or-break moment amid declining volatility that hints at a violent move. Additionally, the spot and perpetual order books reveal that investors are looking to sell. Will the Bitcoin price crash below $100,000 this week or extend its recent bounce and rise to $110,000? If BTC price can produce a higher low above $100,000, it would signal strength and potentially kickstart a rally to $110,00. The odds of this happening are very low due to the sell-side skewed orderbook and price analysis that reveals a make-or-break moment on the one-day timeframe.

BTC Price Analysis: Bitcoin’s Make-or-Break Moment

After dropping 6.10% between June 3 and 5, the BTCUSD pair formed a local low at $100,377 on Coinbase. As of this writing, BTC price trades at $105,562, contesting the June 3 swing high at $106,901. From a technical perspective, traders are paying close attention to the said swing high. If Bitcoin manages to create a higher high, it will create a bullish market structure shift, which is a key signal before a bull trend develops.

On the other hand, a rejection at $105,562 or roughly $106,000 will signal weakness and potentially continue the downtrend, opening the path for the BTC price to set a lower low.

🚀 Will Solana Price Hit $200 as Bullish Wedge Pattern Takes Shape?

Solana (SOL) is poised for a bull run to $200, according to a top market expert. The bullish wedge formation supports this optimistic price prediction for the SOL token. However, investors must remain cautious due to headwinds such as faltering network activity and capital rotation from Solana to other chains. At press time, Solana price trades at $155 with a 4% intraday gain while the daily trading volumes shot up by more than 60% to $2.62 billion.

Solana Price Rally to $200 Looms Amid Bullish Wedge Pattern

Solana price is flashing bullish signs, suggesting that a 29% gain to $200 may be imminent. The appearance of a bullish falling wedge pattern signals this rally, as it often precedes a trend reversal if the price can overcome resistance at the upper trendline.

SOL price bounced from the lower support of this pattern in early May shortly after the MACD formed a buy signal. The rally was cut short as the price approached the upper resistance level, but if it can make a decisive close above, it may catalyze a strong move to the upside.

The height of the falling wedge pattern shows that if the price of Solana overcomes the upward sloping resistance, it could surge by 57%, with the target price standing at $280. However, for Solana price to rally and reach this height, it first needs to overcome the resistance at the $200 psychological level.